LAGOS: President Bola Tinubu has projected that the year 2025 will herald brighter days for Nigerians, as he expressed confidence in the nation’s economic progress and stability. In his New Year message delivered on Wednesday, Tinubu outlined his administration’s commitment to fulfilling the collective desires of Nigerians, despite the challenges faced in 2024.
According to News Agency of Nigeria, Tinubu highlighted several positive economic indicators, including a decrease in fuel prices, consecutive foreign trade surpluses, increased foreign reserves, and a strengthened naira against the US dollar. The president noted that these developments have contributed to greater economic stability and have been bolstered by record growth in the stock market, which has generated trillions of naira in wealth. He also mentioned a surge in foreign investment, which signals renewed confidence in Nigeria’s economy.
However, Tinubu acknowledged ongoing concerns regarding the cost of food and essential drugs, which remain significant issues for many Nigerian households. He assured that his government would intensify efforts to reduce these costs by boosting food production and promoting local manufacturing of essential drugs and other medical supplies. Additionally, the president committed to reducing the inflation rate from its current 34.6 percent to 15 percent, promising that with diligent work and divine assistance, this goal would be achieved.
In his message, President Tinubu announced plans to enhance access to credit for individuals and key economic sectors to stimulate national economic output. He revealed that the Federal Government would establish the National Credit Guarantee Company to expand risk-sharing instruments for financial institutions and enterprises. The company, expected to commence operations before the end of the second quarter, will involve partnerships between government institutions, such as the Bank of Industry, Nigerian Consumer Credit Corporation, Nigerian Sovereign Investment Agency, Ministry of Finance Incorporated, as well as private sector and multilateral organizations.
Tinubu expressed optimism that this initiative would strengthen the financial system, expand credit access, and support under-served groups, including women and youths. He believes it will drive growth, re-industrialization, and improve living standards for Nigerians. The president conveyed his gratitude to Nigerians for their trust and confidence, pledging to continue serving diligently and wholeheartedly. He urged citizens to remain united and focused as the nation pursues the goal of a one trillion-dollar economy, emphasizing the importance of cooperation and collaboration in achieving national prosperity.
Tinubu concluded by affirming that Nigeria is on the right path to becoming a great nation that works for all, urging citizens not to be distracted by divisions based on politics, ethnicity, region, and religion.